GBP / NZD (GBPNZD)

The Services PMI of United Kingdom is expected to reveal a slight slowdown in the services sector of the economy for the month of October. Services PMI is projected to be at 58.5, slightly slower than the previous month’s expansion at an index of 58.7. Given that about 70% of UK economic output is from services, the data is a gauge of UK’s growth in the final quarter of the year. In the third quarter, UK’s economic growth slowed to 0.7% from second quarter’s 0.9%. The main driver of economic growth in the third quarter was from the services sector which was reported to have contributed 0.58 percentage points to the increase in GDP.